Joint Ventures & Public-Private Partnerships in Saudi Arabia
As a transforming nation working towards redefining itself in the wake of uncertain economic reliance on oil, Saudi Arabia is in the midst of a self-driven transition toward an economy based on productivity, reform and socioeconomic improvement. With the self-made initiatives National Transformation Program 2020 and Vision 2030 in place to change and stimulate growth in all sectors, the Kingdom has plans for a productivity-based future with improvements in various areas.
As a U.S. company already involved in the Saudi business sphere, this changing economic environment opens opportunities for you to expand your influence and cement your footing through Public-Private partnerships or joint ventures. However, the Saudi business sphere is complex and culturally sensitive, so it can be difficult to make successful new negotiations, even when you've been working in this atmosphere for some time.
The Quincy Group is here to help. As a well-established, highly knowledgeable advisory firm with extensive experience in Saudi business development, we provide the support you need to succeed in this changing market.
Why Joint Venture Support in Saudi Arabia Will Help Your Business Endeavors
Working with The Quincy Group gives you a competitive edge, both in finding new partners in your industry and furthering your business according to Saudi norms. When you embark on a joint venture, you might have concerns like how to find the right partner, how to perform proper due diligence, and what your priorities should be. The Quincy Group addresses those aspects and more and helps propel you into a better future by:
- Providing you with our own foundation of repute and lending you the trust our company has already established in order to help you build strong relationships.
- Advising you on the customs, culture and context in which you'll conduct your advancing business ventures.
- Giving you our knowledge and recommendations regarding potential partners to help you make the most prosperous decision.
- Aligning your goals, priorities and business plans with Saudi Arabia's Vision 2030 plan to ensure mutual interests in your partnerships and endeavors.
- Understanding your company's intricacies and goals and developing a personalized approach to your investment and partnership process.
The Power of Partners
The Quincy Group has been instrumental in putting together a number of successful Public-Private Partnerships and joint ventures for clients over the last 20 years, resulting in hundreds of millions of dollars in sales.
Selecting the right partnership structure is a critical task as it will form an integral part of your business for many years to come. In a market where even basic economic information has been quite opaque until relatively recently, obtaining good information on potential partners can be a real challenge.
Knowledge of the Local Market
Having been involved in this market for as long as we have, we can add significantly to your understanding of the candidates under consideration. Our knowledge of the local market and our ability to garner information goes far beyond the anodyne background checks and company profiles that make up a standard due diligence file. We help you obtain real ground truth on the individuals, companies and government entities with whom you are considering partnering.
Aligning Business Priorities with Vision 2030
We also help our clients align their business priorities with the government’s Vision 2030 national economic strategy. Vision 2030 and its implementation through the National Transformation Program (NTP) have very specific objectives, ministry by ministry. These objectives are shared by all of the State Owned Enterprises (SOEs) who are also mandated to implement them.
The most critical of these objectives are focused on job creation and knowledge transfer. We have worked quite closely with a number of the most important State Owned Enterprises (SOE’s) and helped our clients create lasting and successful joint ventures with them. Whether it is a partnership focused on co-production or a service company for repair and maintenance, joint ventures with government companies can be an extremely effective way to grow one’s business in the Kingdom.
The Saudi Arabian General Investment Authority (SAGIA) is the body responsible for granting licenses to foreign investors. While we are not a law firm, we work with your local council to navigate the process of registering the new joint venture entity, usually a limited liability company (LLC).
We are completely familiar with this process and can advise you on many of the more common and some more subtle pitfalls as well as the great advantages involved with forming joint ventures in Saudi Arabia.
Choose The Quincy Group for Joint Venture and Public-Private Partnership Assistance in Saudi Arabia
When it comes to furthering your business involvement with a foreign direct investment in Saudi Arabia, The Quincy Group knows exactly how to advance your interests and align you with a prosperous partnership. Trust our access, expertise and 50 years of experience for your joint venture support in Saudi Arabia.